Bulk quantities of outdoor and recreational equipment have hit the B-Stock Sourcing Network and are available from our newest marketplace: Hunting & Fishing Closeouts. This private marketplace will give wholesale buyers access to overstock inventory from one of North America’s largest outdoor sporting goods companies including: fishing, camping, and marine supplies as well as hunting and shooting sports products.
The auction lots, consisting mostly of new, in-its-original-packaging merchandise, will be grouped according to product category and will range from boxes to single pallets to LTL. Auctions will be posted on a routine basis and available to qualified business buyers. For more information, including how to qualify to bid and purchasing guidelines, as well as to review detailed merchandise manifests, please visit the Hunting & Fishing Closeouts marketplace at: http://huntingfishingcloseouts.bstocksolutions.com/
Around 3.5 billion items are returned to retailers each year adding up to over $260 billion worth of merchandise. A large portion of this inventory can’t go back on store or virtual shelves – due to diminished item condition, damaged packaging or product obsolescence – and is slated for liquidation. Luckily the ‘L word’ (in this case) doesn’t have to be a term of frustration or thought of as a lost cause; in fact there is huge opportunity to recoup value for this inventory simply by applying technology and sound strategy.
B-Stock Solutions’ CEO Howard Rosenberg recently addressed the above topic in a Tech Guest Viewpoint for Chain Store Age magazine, specifically looking at how ditching manual methods and automating the liquidation process can bring efficiency and create a strategic business advantage. Consider this:
- Selling inventory offline to one or two liquidators creates low recovery value
- Time spent negotiating deals for every lot of merchandise takes away from core business activities
- A Web-based solution allows thousands of buyers to compete for your inventory
To read more of Howard’s article in Chain Store Age, please click here. For more information on how B-Stock can build a technology based and data-driven solution for your returned, overstock or excess inventory, please contact us.
Millions of dollars in merchandise is returned to wireless retailers each year. Most of it can’t go back on store shelves due to diminished item condition, damaged packaging or product obsolescence. No matter the reason, that’s a significant amount of idle inventory taking up backroom space and subsequently costing money. Reducing internal time and costs in the handling of this merchandise can make a huge difference margin-wise; this is especially true when it comes to merchandise slated for liquidation.
This topic was recently covered by Wireless Dealer Magazine specifically looking at how an efficient liquidation solution for customer-returned and other excess wireless inventory – implemented either in-house or through a solution provider like B-Stock Solutions – can really optimize the monetization of this merchandise.
Before you get started however, there are questions you should ask yourself, including:
- Are you reaping maximum financial benefits?
- Does your solution provide the control you want?
- Are you building a strategic advantage for your company?
- Is the solution adequately flexible?
Taking a look at some the approaches other wireless retailers are taking with their excess inventory can provide clarity and direction as well. Many are opting to build customized B2B liquidation and wholesale marketplaces – like those powered by B-Stock Solutions – that connect excess and customer returned inventory directly to buyers; this enables more control over the entire process while boosting recovery amounts.
For more information including best practices and advice on how to implement a solution for returned and excess wireless inventory please check out our Wireless Dealer Magazine article. For more information on B-Stock Solutions’ service offerings please contact us.
We are pleased to be one of SupplyChainBrain’s “100 Great Supply Chain Partners” for 2015. The list of 100 is the result of a six-month process where supply chain professionals were asked to nominate service providers whose solutions have made a significant business impact. B-Stock was nominated by one of our clients for implementing a customized B2B marketplace solution for customer returns and overstock inventory.
Being nominated for and selected as one of SupplyChainBrain magazine’s 100 Great Partners is a terrific accolade and truly affirms the importance of implementing a top-notch program for returned and excess inventory as well as creating long-term and meaningful client partnerships.
To read more about B-Stock’s 100 Great Supply Chain Partners recognition, please read our press release. For a look at the SupplyChainBrain 100 Great please read the online article or pick up a copy of the magazine’s July/August issue.
For more information on how B-Stock can help you implement a successful liquidation solution, please contact us.
These days, you’d be hard pressed to find a major retailer that doesn’t offer an online platform or store to purchase items from, and for good reason: now more than ever consumers are heading online to make purchases. In fact, current statistics show that 89% of consumers prefer to shop online – not surprisingly – due to the convenience, value and variety of products available at their fingertips (literally). With the steady increase in online consumer spending however comes an equally steady rise in consumer returns, leaving retailers with a lot of returned and excess merchandise to sort out behind the scenes.
- On average 12% to 15% of online purchases are returned versus 6 to 8% for brick and mortar
- Consumer electronics and shoes purchased online come with the highest return rate of up to 20%
- Relaxed return policies including free shipping on returns drive up the amount of items returned
- Retailers spend an estimated 5% to 6% percent of revenue to manage all aspects of an online customer return
If you’re experiencing higher volumes of returned merchandise due to an increase in your online channel and are in need of a liquidation solution for that merchandise, a B2B marketplace platform can help maximize the merchandise value while lowering operational churn time. Rather than relying on traditional liquidation methods, including negotiating directly with one or two buyers, an online marketplace that connects your inventory directly to thousands of business buyers can increase recovery by 30-50% and sometimes much more.
To learn more about the benefits of leveraging an online B2B liquidation marketplace platform, please contact us. For a look at some the top retailers’ online marketplaces, powered by B-Stock, please visit the B-Stock Sourcing Network.
Relaxed return policies drive customer loyalty but can wreak havoc on reverse logistics. Given the amount of merchandise returned each year is steadily growing (in 2014 it was up 6%), reducing internal costs in the handling of this returned merchandise is critical in today’s competitive retailing environment, especially when it comes to merchandise slated for liquidation. By getting smart about the secondary market and looking beyond traditional liquidation methods – including negotiating with and selling manually to one or two liquidators – you can create a more sophisticated, scalable solution that optimizes your monetization of customer returns.
So the question becomes: how can an organization update its reverse logistics program and what does a successful, sophisticated and scalable solution for customer returns and other excess inventory look like?
We recently put together a client case study covering this particular topic: the client – one of the world’s largest home furnishings and home décor e-tailers – was experiencing higher volumes of customer returns due to explosive growth in sales and needed a liquidation solution that could effectively scale while maintaining good recovery numbers.
To solve this challenge, B-Stock launched a customized B2B marketplace for the client enabling large numbers of approved business buyers to bid directly on the inventory, thus driving prices up. Additionally data-driven auction strategies were applied to extract the buyers’ highest willingness to pay while category-specific marketing programs were implemented, driving thousands of new buyers to the marketplace. The result was a 31% increase in overall recovery for the merchandise – even after a triple digit percentage increase in inventory volume.
To read our full case study, please click here. For more information on how B-Stock can help you create a successful and scalable solution for your customer returns and excess inventory, please contact us.
We are thrilled by our inclusion in the “Supply & Demand Chain Executive 100” for 2015. The recognition highlights top projects between clients and solution providers that have resulted in supply chain excellence. B-Stock was selected based on the successful execution of a B2B liquidation marketplace for a major home décor and furnishings e-retailer.
This accolade from Supply & Demand Chain Executive is extremely gratifying and further affirms the importance of implementing a liquidation program – that maximizes recovery while minimizing overhead – into overall business strategy. Through our technology platform and data-driven services, B-Stock is proud to routinely deliver results for our clients.
To read more about B-Stock’s SDCE 100 recognition, please read our press release. For a look at the Supply & Demand Chain Executive 100 please read the online article or pick up a copy of the magazine’s June issue.
By working hard to change the way organizations approach their customer returns and excess merchandise, B-Stock is revolutionizing the liquidation business. For more information on how B-Stock can help you implement a successful liquidation solution, please contact us.